v3.25.1
ACL for Loans (Tables)
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Financing Receivable Credit Quality Indicators
The following tables present the amortized cost basis of the Company's loan portfolio risk ratings within portfolio classifications, by origination date, or revolving status as of the dates indicated:
At or for the three months ended March 31, 2025
Term Loans by Origination Year
(Dollars in thousands)20252024202320222021PriorRevolving LoansRevolving Loans Converted to TermTotal
Commercial real estate owner-occupied
Pass$17,654 $48,618 $128,484 $103,792 $83,168 $310,432 $7,440 $— $699,588 
Special mention— — 128 — — 6,119 — — 6,247 
Substandard— — — 1,205 417 1,188 — — 2,810 
 Total commercial real estate owner-occupied17,654 48,618 128,612 104,997 83,585 317,739 7,440 — 708,645 
Current period charge-offs— — — — — — — — — 
Commercial real estate non owner-occupied
Pass34,391 157,713 146,074 315,407 295,690 658,812 1,302 — 1,609,389 
Special mention— — 1,622 15,351 — — — — 16,973 
Substandard— — — 218 — 2,814 — — 3,032 
 Total commercial real estate non owner-occupied34,391 157,713 147,696 330,976 295,690 661,626 1,302 — 1,629,394 
Current period charge-offs— — — — 16 — — — 16 
Commercial and industrial
Pass22,157 81,534 56,157 36,109 30,778 69,420 179,095 1,489 476,739 
Special mention— — — — — 440 641 19 1,100 
Substandard— — 452 3,242 279 719 201 433 5,326 
 Total commercial and industrial22,157 81,534 56,609 39,351 31,057 70,579 179,937 1,941 483,165 
Current period charge-offs— — 15 6 1 113 — — 135 
Commercial construction
Pass14,454 160,181 221,178 97,988 91,848 26,685 34,311 — 646,645 
Special mention— — — — — 3,108 — — 3,108 
Substandard— — 564 14,619 — — — — 15,183 
 Total commercial construction14,454 160,181 221,742 112,607 91,848 29,793 34,311 — 664,936 
Current period charge-offs— — — — — — — — — 
Residential mortgages
Pass11,023 81,658 78,834 100,730 63,159 112,946 — — 448,350 
Substandard— — — — 1,031 1,075 — — 2,106 
 Total residential mortgages11,023 81,658 78,834 100,730 64,190 114,021 — — 450,456 
Current period charge-offs— — — — — — — — — 
Home equity
Pass860 620 451 778 520 3,556 97,680 1,038 105,503 
Substandard— — — — 148 128 — — 276 
 Total home equity860 620 451 778 668 3,684 97,680 1,038 105,779 
Current period charge-offs— — — — — — — — — 
Consumer
Pass789 1,853 1,879 1,111 885 747 — — 7,264 
Substandard— — — 3 — — — — 3 
 Total consumer789 1,853 1,879 1,114 885 747 — — 7,267 
Current period charge-offs50 — — — — 3 — — 53 
Total loans$101,328 $532,177 $635,823 $690,553 $567,923 $1,198,189 $320,670 $2,979 $4,049,642 
Total current period charge-offs$50 $— $15 $6 $17 $116 $— $— $204 
At or for the year ended December 31, 2024
Term Loans by Origination Year
(Dollars in thousands)20242023202220212020PriorRevolving LoansRevolving Loans Converted to TermTotal
Commercial real estate owner-occupied
Pass$49,097 $126,723 $101,658 $83,937 $49,526 $277,331 $7,312 $— $695,584 
Special mention— 130 — — — 6,546 — — 6,676 
Substandard— — 1,228 423 — 723 — — 2,374 
 Total commercial real estate
49,097 126,853 102,886 84,360 49,526 284,600 7,312 — 704,634 
Current period charge-offs
— — — — — — — — — 
Commercial real estate non owner-occupied
Pass154,004 141,723 292,192 287,506 147,374 520,370 827 300 1,544,296 
Special mention— — 15,448 — — — — — 15,448 
Substandard— — 218 340 445 2,454 — — 3,457 
 Total commercial real estate non owner-occupied
154,004 141,723 307,858 287,846 147,819 522,824 827 300 1,563,201 
Current period charge-offs— — — — — — — — — 
Commercial and industrial
Pass81,891 60,997 39,791 32,536 20,325 50,476 182,184 5,924 474,124 
Special mention— — — — 203 258 270 — 731 
Substandard— 17 3,248 691 — 504 303 203 4,966 
 Total commercial and industrial
81,891 61,014 43,039 33,227 20,528 51,238 182,757 6,127 479,821 
Current period charge-offs12 44 — 196 — 267 — — 519 
Commercial construction
Pass138,845 229,116 127,493 106,452 9,517 21,582 32,325 — 665,330 
Substandard— — 14,639 — — — — — 14,639 
 Total commercial construction
138,845 229,116 142,132 106,452 9,517 21,582 32,325 — 679,969 
Current period charge-offs— — — — — — — — — 
Residential mortgages
Pass79,540 79,929 101,910 64,219 44,149 71,188 — — 440,935 
Substandard— — — 1,042 — 1,119 — — 2,161 
 Total residential mortgages
79,540 79,929 101,910 65,261 44,149 72,307 — — 443,096 
Current period charge-offs— — — — — — — — — 
Home equity
Pass623 454 783 528 433 2,033 97,217 1,507 103,578 
Substandard— — — — — 83 — 197 280 
 Total home equity
623 454 783 528 433 2,116 97,217 1,704 103,858 
Current period charge-offs— — — — — — — — — 
Consumer
Pass3,211 2,014 1,209 982 461 442 — — 8,319 
 Total consumer
3,211 2,014 1,209 982 461 442 — — 8,319 
Current period charge-offs94 3 1 — — 1 — — 99 
Total loans $507,211 $641,103 $699,817 $578,656 $272,433 $955,109 $320,438 $8,131 $3,982,898 
Total current period charge-offs$106 $47 $1 $196 $— $268 $— $— $618 
Past Due Financing Receivables
The following tables present an age analysis of past due loans by portfolio classification as of the dates indicated:
Balance at March 31, 2025
(Dollars in thousands)30-59 Days
Past Due		60-89 Days
Past Due		Past Due 90 Days or More
Total Past
Due Loans(1)
Current
 Loans(1)
Total
Loans
Commercial real estate owner-occupied$699 $— $565 $1,264 $707,381 $708,645 
Commercial real estate non owner-occupied
447 — 1,118 1,565 1,627,829 1,629,394 
Commercial and industrial2,211 391 5,045 7,647 475,518 483,165 
Commercial construction2,799 6,780 563 10,142 654,794 664,936 
Residential mortgages1,518 — 1,212 2,730 447,726 450,456 
Home equity241 — — 241 105,538 105,779 
Consumer51 2 5 58 7,209 7,267 
Total loans$7,966 $7,173 $8,508 $23,647 $4,025,995 $4,049,642 
Balance at December 31, 2024
(Dollars in thousands)30-59 Days
Past Due		60-89 Days
Past Due		Past Due 90 Days or More
Total Past
Due Loans(1)
Current
 Loans(1)
Total
Loans
Commercial real estate owner-occupied$1,333 $— $522 $1,855 $702,779 $704,634 
Commercial real estate non owner-occupied
1,856 366 2,665 4,887 1,558,314 1,563,201 
Commercial and industrial1,319 69 3,702 5,090 474,731 479,821 
Commercial construction1,688 2,484 7,905 12,077 667,892 679,969 
Residential mortgages690 940 — 1,630 441,466 443,096 
Home equity467 133 — 600 103,258 103,858 
Consumer34 3 — 37 8,282 8,319 
Total loans$7,387 $3,995 $14,794 $26,176 $3,956,722 $3,982,898 
_______________________________________
(1)The loan balances in the tables above include loans designated as non-accrual despite their payment due status. Loans designated as non-accrual are presented below.
Financing Receivable, Nonaccrual
The following tables present the amortized cost of non-accrual loans by portfolio classification as of the dates indicated:
Balance at March 31, 2025
(Dollars in thousands)Total Non-accrual LoansNon-accrual Loans without a Specific ReserveNon-accrual Loans with a Specific ReserveRelated Specific
Reserve
Commercial real estate owner-occupied$2,810 $2,810 $— $— 
Commercial real estate non owner-occupied3,032 2,132 900 340 
Commercial and industrial5,321 744 4,577 1,969 
Commercial construction15,183 8,403 6,780 3,355 
Residential mortgages1,877 1,877 — — 
Home equity 253 253 — — 
Consumer3 — 3 3 
Total loans$28,479 $16,219 $12,260 $5,667 
Balance at December 31, 2024
(Dollars in thousands)Total Non-accrual LoansNon-accrual Loans without a Specific ReserveNon-accrual Loans with a Specific ReserveRelated Specific
Reserve
Commercial real estate owner-occupied$2,374 $2,374 $— $— 
Commercial real estate non owner-occupied3,457 2,532 925 185 
Commercial and industrial4,029 714 3,315 2,398 
Commercial construction14,639 — 14,639 3,649 
Residential mortgages1,931 1,931 — — 
Home equity 257 257 — — 
Consumer— — — — 
Total loans$26,687 $7,808 $18,879 $6,232 
Financing Receivable, ACL
The following tables present the recorded investment in collateral dependent loans and the related specific allowance by portfolio allocation as of the dates indicated:
Balance at March 31, 2025
(Dollars in thousands)Unpaid
Contractual
Principal
Balance		Total Recorded
Investment in
Collateral Dependent Loans		Recorded
Investment
without a
Specific Reserve		Recorded
Investment
with a
Specific Reserve		Related Specific
Reserve
Commercial real estate owner-occupied$3,351 $2,811 $2,811 $— $— 
Commercial real estate non owner-occupied3,634 3,032 2,133 899 340 
Commercial and industrial6,411 5,311 950 4,361 1,753 
Commercial construction15,433 15,183 8,403 6,780 3,355 
Residential mortgages2,244 2,105 2,105 — — 
Home equity301 253 253 — — 
Consumer— — — — — 
Total$31,374 $28,695 $16,655 $12,040 $5,448 
Balance at December 31, 2024
(Dollars in thousands)Unpaid
Contractual
Principal
Balance		Total Recorded
Investment in
Collateral Dependent Loans		Recorded
Investment
without a
Specific Reserve		Recorded
Investment
with a
Specific Reserve		Related Specific
Reserve
Commercial real estate owner-occupied$2,921 $2,374 $2,374 $— $— 
Commercial real estate non owner-occupied4,368 3,457 2,532 925 185 
Commercial and industrial5,507 4,184 921 3,263 2,346 
Commercial construction14,824 14,639 — 14,639 3,649 
Residential mortgages2,347 2,161 2,161 — — 
Home equity145 108 108 — — 
Consumer— — — — — 
Total$30,112 $26,923 $8,096 $18,827 $6,180 
The following tables present changes in the ACL for loans by portfolio classification, during the three-month periods indicated:
(Dollars in thousands)Commercial Real Estate Owner-OccupiedCommercial Real Estate Non Owner-OccupiedCommercial and
Industrial		Commercial ConstructionResidential
Mortgage		Home
Equity		ConsumerTotal
Beginning Balance at December 31, 2024$10,813 $27,774 $9,940 $11,765 $2,205 $746 $255 $63,498 
Provision for credit losses on loans57 1,352 (848)(484)37 13 (7)120 
Recoveries— — 601 — — — 27 628 
Less: Charge-offs— 16 135 — — — 53 204 
Ending Balance at March 31, 2025$10,870 $29,110 $9,558 $11,281 $2,242 $759 $222 $64,042 
(Dollars in thousands)Commercial Real Estate Owner-OccupiedCommercial Real Estate Non Owner-OccupiedCommercial and
Industrial		Commercial ConstructionResidential
Mortgage		Home
Equity		ConsumerTotal
Beginning Balance at December 31, 2023$10,454 $27,620 $11,089 $6,787 $2,152 $579 $314 $58,995 
Provision for credit losses on loans25 1,201 (639)1,429 (80)(46)(22)1,868 
Recoveries— — 68 — — 2 2 72 
Less: Charge-offs— — 185 — — — 9 194 
Ending Balance at March 31, 2024$10,479 $28,821 $10,333 $8,216 $2,072 $535 $285 $60,741 
Loan Modifications on Financing Receivables
The following table presents the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty by type of concession granted during the period indicated:
Three months ended
March 31, 2025
(Dollars in thousands)Payment DeferralsTerm ExtensionsTotal% of Loan Class Total
Commercial real estate non owner-occupied$1,352 $1,622 $2,974 0.18 %
Total$1,352 $1,622 $2,974 0.07 %
The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the period indicated:
Three months ended
March 31, 2025
Weighted Average Payment DeferralsWeighted-Average Term Extensions
Commercial real estate non owner-occupied3 months4 months
The following table presents the performance status of loans that were modified within the preceding twelve months to borrowers experiencing financial difficulty, as of periods indicated:
Balance at March 31, 2025
(Dollars in thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		Past Due 90 Days or MoreTotal Past
Due
Commercial real estate owner-occupied$— $— $— $— $— 
Commercial real estate non owner-occupied2,974 — — — — 
Commercial and industrial1,640 — — — — 
Commercial construction7,840 — — — — 
Residential mortgages— — — — — 
Home equity23 — — — — 
Consumer— — — — — 
Total$12,477 $— $— $— $— 

Balance at March 31, 2024
(Dollars in thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		Past Due 90 Days or MoreTotal Past
Due
Commercial real estate owner-occupied$— $— $— $— $— 
Commercial real estate non owner-occupied— — — — — 
Commercial and industrial— — — 143 143 
Commercial construction— — — — — 
Residential mortgages31 — — — — 
Home equity— — — — — 
Consumer— — — — — 
Total$31 $— $— $143 $143 
Change in Provisions for Credit Losses
The following table presents changes in the provision for credit losses on loans and unfunded commitments during the periods indicated:
Three months ended
(Dollars in thousands)March 31,
2025		March 31,
2024
Provision for credit losses on loans - collectively evaluated
$685 $417 
Provision for credit losses on loans - individually evaluated
(565)1,451 
Provision for credit losses on loans120 1,868 
Provision for unfunded commitments211 (1,246)
Provision for credit losses$331 $622